James Melton
James Melton, California Value Group, Inc.Phone: (714) 318-4664
Email: [email protected]

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listing
1 of 32
Residential IncomeFor Sale
$1,350,000
2024 Chestnut Avenue
Long Beach, CA 90806
Listed by Anthony Walker DRE#01908153 [email protected] Buckingham Investments, Inc
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$7,068/mo

Just reduced! Large 5 unit building with (3) 3-Bed Units, (1) Large 2-Bed Unit, and (1) 1-bed unit in the excellent neighborhood of South Wrigley. The building is conveniently located less than a mile from the 710 Freeway, less than 2 miles from the 405, and just 2 miles North of the beach. Attractive residential tree-lined street. The property is priced to sell at 10.86 GRM and a current cap rate of 5.66%. There is approximately 7% upside in income to a market cap rate of 6.3%. It has fresh exterior paint and the electrical system was just updated in September of 2024. There is also a detached garage building off of the back alley that has 4 spots in 3 separate garages. Perfect ADU opportunity.

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Information courtesy of Buckingham Investments, Inc is subject to verification and is not guaranteed.
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